Search found 9 matches: Mackay

Searched query: mackay

by Higgenbotham
Wed Aug 17, 2022 10:18 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

Market related.

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.”
― Charles MacKay, Extraordinary Popular Delusions and the Madness of Crowds


https://theconversation.com/being-copyc ... man-121932
But a growing number of cognitive scientists and anthropologists are rejecting that explanation. These researchers think that, rather than making our living as innovators, human beings survive and thrive precisely because we don’t think for ourselves. Instead, people cope with challenging climates and ecological contexts by carefully copying others – especially those we respect. Instead of Homo sapiens, or “man the knower,” we’re really Homo imitans: “man the imitator.”

In a famous study, psychologists Victoria Horner and Andrew Whiten showed two groups of test subjects – children and chimpanzees – a mechanical box with a treat inside. In one condition, the box was opaque, while in the other it was transparent. The experimenters demonstrated how to open the box to retrieve a treat, but they also included the irrelevant step of tapping on the box with a stick.

Oddly, human children carefully copied all the steps to open the box, even when they could see that the stick had no practical effect. That is, they copied irrationally: Instead of doing only what was necessary to get their reward, children slavishly imitated every action they’d witnessed.

Of course, that study only included three- and four-year-olds. But additional research has showed that older children and adults are even more likely to mindlessly copy others’ actions, and young infants are less likely to over-imitate – that is, to precisely copy even impractical actions.

By contrast, chimpanzees in Horner and Whiten’s study only over-imitated in the opaque condition. In the transparent condition – where they saw that the stick was mechanically useless – they ignored that step entirely, merely opening the box with their hands. Other research has since supported these findings.

When it comes to copying, chimpanzees are more rational than human children or adults.
by aeden
Tue Dec 24, 2019 9:33 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

Where visibility is concerned, our belief is that, if the economy does tip over in the coming few years, retrospect – which always enjoys the 20-20 vision of hindsight – will say that the signs of the impending crash were visible well before 2013. For a start, anyone who believed that a globalisation model (in which the West unloaded production but expected to consume as much, or even more, than ever) was sustainable was surely guilty of willful blindness. Such a state of affairs was only ever viable on the insane assumption that debt could go on increasing indefinitely.
Charles Mackay chronicled many delusions, but none – not even the faith placed in witchcraft – was ever quite as irrational as the belief (seldom stated, but always implicit in Western economic policy) that there need never be an end to a way of life which was wholly dependent on ever-greater debt.

https://ftalphaville-cdn.ft.com/wp-cont ... orm-LR.pdf

Classic symptoms of total suicidal narcissists with the pedal to the f-ing metal lunatics.
The thaw will be the epic stupidity of not living within the actual constraints of carry capacity.

The other lunatics have no compunction of throwing ten million of their own under he bus.
As we know over fifteen languages of extinct study said the same thing to the mass brainwashing
of totalitarians masking as cult statist religions.

It is our simple contention the 2024 window in markers are and is correct to date.
You cannot prepare them since study is a foreign thought of conditions.
Fair trade is all you will have since free trade was never an actual fact.
The serve of the debt will be a mechanical effect as they will indeed asset strip the remaining blood bags
and correct for cracker jack joe. From 13 colony's to the GBU-43/B.

thread: ankara Mackay ggs bantu
http://gdxforum.com/forum/search.php?ke ... sf=msgonly


http://gdxforum.com/forum/search.php?ke ... sf=msgonly

"The rules of morality are not the conclusions of our reason." - David Hume
by Higgenbotham
Fri Nov 01, 2019 10:49 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

Higgenbotham wrote:Reading the above, that's almost precisely what goes on during the evolution of a stock market bubble.
Assuming this is correct, as the bubble grows, corporate stupidity grows along with it. Eventually, the level of corporate stupidity cannot possibly justify the elevated stock prices, and the stock market and corporate profits crash. As Mackay stated, "They recover their sense slowly and one by one."
by Higgenbotham
Mon Mar 04, 2019 1:39 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

Higgenbotham wrote:
Charles Mackay wrote:"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
Charles Mackay
Extraordinary Popular Delusions and the Madness of Crowds
1841
by aeden
Thu Apr 13, 2017 6:27 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

The recent announcement out of Ankara about the gold bonds and the rest is just a last ditch attempt to scoop up any gold left in the hands of their citizen victims, and presages the complete collapse of the economy which will come after this Sunday's referendum results. t

http://www.salon.com/2017/04/12/watch-5 ... president/ unpossible meets Charles Mackay again.

https://en.wikipedia.org/wiki/Extraordi ... s-Tree.png

thread: Laodicea
by Higgenbotham
Sun Sep 29, 2013 12:33 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

at99sy wrote:Who could have possibly been surprised that the fed did not reduce the QE? The day they started down this road was the point of no return. Once the patient is addicted.......

sy
Last Thursday, prior to the FOMC announcement, I was having an early lunch with Kyle Bass so he could get back to the office in time for the announcement. As we were finishing up, I was invited to come sit with another group of friends and traders who also happened to be in the same restaurant. Everyone was sure there would be some type of tapering. That message had been clearly communicated to the markets. When the announcement came, the telephones went off and everyone erupted with various forms of surprise. I fully admit to being speechless. I kept waiting for some kind of explanation, and none came. The more we talked about it and the more I thought about it later, the more convinced I became that this was one of the more ham-handed policy announcements from the Fed in a very long time. Why would you go to the trouble of getting the market all ready for the onset of tapering, build expectations, and then jerk out the rug? What in the wide, wide world of sports is going on?

I’ve been with Louis Gave and David Rosenberg this weekend here in Toronto. Everyone is searching for an answer on the FOMC's move.
http://www.financialsense.com/contribut ... tin-on-itz

I know your question is rhetorical, but it looks like even smart people aren't thinking. If Ben Bernanke said it was true, then it was automatically deemed to be true. That was the extent of their analysis. That's one ingredient for a panic. Like Mackay said in Extraordinary Popular Delusions and the Madness of Crowds, "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
by Higgenbotham
Sat Mar 02, 2013 11:40 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

As mentioned earlier, I made 2 500 year event fractals in 2004. The first possibility was for the financial crisis to be on an earlier and separate timeline from the war. The second possibility was for the financial crisis to be on the same timeline as the war. It appears both have played out to some extent but that the real financial crisis will be on the same timeline as the war.

The first possibility allowed for a bubble peak anywhere between 2004 and 2008 with the middle of that range appearing most probable. The second possibility allows for the bubble peak anywhere between 2010 and 2014 with the middle of that range also appearing most probable.

Which gets me to the point of this post. For the most part, the events that I'm timing off of have no specific resolution dates and are often multiple events occurring in various countries. For example, I've discussed on several occasions the destruction of Moscow in 1571 by the Crimean Tatars and there were many similar events that same year and the year after. There is one exception, though. One of the overlays on the second timeline has the Holland Tulip Mania corresponding to the peak of the 1929 bubble, and the South Sea Bubble corresponding to the peak of this bubble.

Accounts give various dates as to exactly when these 2 bubbles peaked but to the best of my knowledge they peaked almost exactly 83.5 years apart within perhaps a couple days. 83.5 years from the peak of the 1929 stock market bubble is tomorrow.

It's always been my thought that the 1929 bubble peaked a month later than it should have ideally. I won't go into all the reasons but that was part of my thinking as to why this bubble would peak in early February and to some extent it has, as the stock market indices have made little or no progress since then on average. Another part of my thinking had been that a bubble in an oddball item like tulip futures or South Sea shares is less tethered to earth than the Bernanke Bubble, which basically runs through everything imaginable that is part of the US economy. But I've found time and again that it's more often better to let history do my thinking for me rather than to look for reasons why history is "different this time".

From August 1, 2012 post:

"At the top of every bubble at the end of every age it seems to me that humans come up with some silly idea as to how a society can be organized or what it can deliver, which is completely unrealistic at that time and place.

One of the best examples I can think of is the South Sea Bubble. There was a time when I understood in great detail what that idea was, and my best recollection now is that the idea was to extract goods from the 4 corners of the earth and make those goods available to the public. In 1720, while enough technology existed to imagine that fantasy, it was unrealistic. Yet, almost 300 years later that has been realized and we can walk into a Wal-Mart and buy goods from all over the world or order things on the Internet from companies all over the world and receive those goods in 2 days, which I think is some version and realization of what the South Sea Bubble fantasy was about. At least, that was my thought as I studied it in detail. As Mackay described, there were many concepts and many frauds put forth besides just the South Sea Company."

This is why I think the news I posted a couple weeks back from Wal-Mart is so very critical. I've noted from the news that Wal-Mart executives were very optimistic about February sales going into the month, then sales unexpectedly worsened. The timelines of history tell us that is the likely marker to expect if the bursting of the South Sea Bubble will indeed correlate in theme and in time to the bursting of the Bernanke Bubble.
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal- Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”
The world’s largest retailer’s struggles come after executives expected a strong start to February because of the Super Bowl, milder weather and paycheck cycles, according to the minutes of a Feb. 1 officers meeting Bloomberg obtained.
by Higgenbotham
Wed Aug 01, 2012 12:04 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

One last idea on the above subject for now. At the top of every bubble at the end of every age it seems to me that humans come up with some silly idea as to how a society can be organized or what it can deliver, which is completely unrealistic at that time and place.

One of the best examples I can think of is the South Sea Bubble. There was a time when I understood in great detail what that idea was, and my best recollection now is that the idea was to extract goods from the 4 corners of the earth and make those goods available to the public. In 1720, while enough technology existed to imagine that fantasy, it was unrealistic. Yet, almost 300 years later that has been realized and we can walk into a Wal-Mart and buy goods from all over the world or order things on the Internet from companies all over the world and receive those goods in 2 days, which I think is some version and realization of what the South Sea Bubble fantasy was about. At least, that was my thought as I studied it in detail. As Mackay described, there were many concepts and many frauds put forth besides just the South Sea Company.

Now, at the end of what may be another stage of human history, humans have come up with another seemingly silly idea, which is the idea that a form of intelligence which is ostensibly superior to collective human intelligence can be substituted for collective human intelligence, and somehow a more perfect society can be the result. That idea has been attributed as being the actual cause of the collapse of societies and mocked for its ridiculousness, and as we in the West mocked the Soviets for their less optimal version of it, perhaps we in the West will be subject to a similar fate as that of the Soviet Union, as our attempts to engineer a "more perfect" society lead to the same or even worse outcome.

But I wouldn't dismiss the idea that there may be some greater purpose to this seemingly silly and futile exercise, similar to the way in which the seemingly silly concepts formulated and rationalized in the South Sea Bubble led to their realization almost 3 centuries later, through technologies and systems that could be at most vaguely conceived of at the time, taking about 80 years of hard work and "real change" after the bursting of the bubble to put the foundation in place from which that idea was realized.

PS Happy 292nd anniversary of the bursting of the South Sea Bubble. Acording to Mackay, the bubble peaked at the commencement of August, 1720. And until I looked at the time stamp on this post, I hadn't made that connection.
by Higgenbotham
Thu Nov 17, 2011 4:11 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 15766684

Re: Financial topics

There is no safe financial haven. A tipping point was reached 2-3 months ago. MF Global is a canary in the coal mine.

Quoted between August 13 and September 10:
William Playfair wrote:As in the hall, in which there has been a sumptuous banquet, we perceive the fragments of a feast now become prey to beggars and banditti; if in some instances, the spectacle is less wretched and disgusting; it is, because the banquet is not entirely over, and the guests have not all yet risen from the table.

William Playfair
An inquiry into the permanent causes of the decline and fall of powerful and wealthy nations
1805

Guests are rising from the table.
Charles Mackay wrote:"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
Charles Mackay
Extraordinary Popular Delusions and the Madness of Crowds
1841